September 2018

NFMW-greetings

In this edition we would like to welcome and introduce to you the newly appointed SALGA-employer trustee, Mr. Rio Nolutshungu, who has joined the Board of Trustees during the month of September.

The latest portfolio investment returns are provided, as well as a copy of the fund's Investment Policy Statement (IPS) which captures the fund’s investment philosophy including its investment objectives, risk tolerances and any constraints applied to investment portfolios. It also communicates the investment strategy which identifies those involved in the investment process and defines the expectations and processes involved in the selection, remuneration and replacement of investment managers.

The latest benefit statements were posted to all members early in September, providing figures as at 30 June 2018. Members who have not received their statement/s are cordially requested to please contact the fund to ensure that we have their correct contact details on record. Remember you can also make use of the interactive site to view your fund information.

We are always looking at ways to further improve the way in which we communicate with our members and have introduced new, quicker and easier communication mediums, but more on this in our next edition.

As always, you are welcome to contact us if you require any further information or assistance with any fund-related matter.

Kind regards

Sean Samons <br />
Principal Executive Officer

NEWLY APPOINTED EMPLOYER TRUSTEE JOINS NFMW BOARD

The NFMW Board of Trustees consists of 12 member representatives and one employer representative appointed by the South African Local Government Association. Mr. Rio Nolutshungu was appointed by SALGA to replace Mr Francis Ratlhaga, as trustee effective 10 September 2018.

Mr. Nolutshungu is one of SA's leading and influential Local Government practitioners and is currently employed as an Executive Director at SALGA. Rio is also a Chief Negotiator on behalf of SA municipalities and serves on various other structures on behalf of SALGA. Rio is passionate about community development, youth empowerment and contributing to charitable and good causes.

LATEST INVESTMENT PERFORMANCE

<hr /><h2>NFMW LATEST INVESTMENT POLICY STATEMENT (IPS)</h2>

The IPS is reviewed by the Board of Trustees at the end of the financial year or sooner in the case of material changes to the structure of the fund.